Importance Of Automobile Industry

INTRODUCTION

India is one of the fastest growing economies in the world. Various sectors contribute to the development of Indian economy. The contribution of service sector to gross domestic product (GDP) is higher than any other sector. Next to service sector manufacturing sector contributes more to GDP followed by agricultural sector. In the aspect of employment, next to agricultural sector, manufacturing sector gives more employment to people. There are several industries in manufacturing sector, among them automobile industry has playing prominent role in the aspects of production, sales and employment. Automobile industry is the key driver of Indian economy. It plays a vital role in the economy and industrial development of Indian. It supports the development of some other industries by the procurement of raw material, those basic industries are steel, metal, plastic, petrochemicals, rubber, glass, and so on. These industries give more employment opportunity to people directly and indirectly. The success of an industry depends on industrial units consisted in such industry. Hence the study on the units (companies) is getting importance. The automobile industry is one of the fastest growing industries in India. It also one of the largest in the world. It is the sixth largest in the world in terms of passenger car and commercial vehicle manufacturing. This industry also helps to raise foreign currency by exports averagely 1.5 million vehicles every year.

The increasing